Entrepreneurship & Small business management

TERM PAPER

Submitted to

Mr. Atta ur Rehman

Submitted by

M. Hasan Rabbani Abdul Munam Khan Rana Saad Tajamul Umair Khan
2

Contents Ackno led!ement"""""""""""""""""""""............. # E$ecuti%e Summary"""""""""""""""""""""""" & 'ocation and tar!et market"""""""""""""""""""".. ( )hy Music is *m+ortant ,or Students- ....................................................... . /escri+tion o, 0irm1s Product2Ser%ices""""""""""""""" 3 4usiness Strate!y"""""""""""""""""""""""...... 56 Marketin! Strate!y"""""""""""""""""""""""..... 55 0inancial /ata"""""""""""""""""""""""""".. 5& Pro+osed 'ayout +ictures""""""""""""""""""".".. 57 End 8ote""""""""""""""""""""""""""".".. 9:

Ackno led!ement

The most important acknowledge is to our Lord Most Merciful Most Wise by whose mercy we were able to begin this project, His Mercy is such that unworthy slaves like ourselves are given the ability to work in His cause through which we remember Him and be grateful towards all He has given us. llah states in the !uran 'Then remember Me; I will remember you. Be grateful to Me, and do not reject Me' "al#$a%arah &' ()&* May llah accept our humble project as an effort to remember and thank Him. meen + am deeply indebted to my supervisor Mr. tta ur ,ehman from the +mperial -ollege of $usiness .tudies whose help, stimulating suggestions and encouragement helped us in our final term project.

E$ecuti%e Summary

The /.chool of ,ock0 is one of a kind platform which caters to different aspects in musicology. $y bringing this up, we aim to provide an environment where keen music lovers can play and learn music. /.chool of ,ock0 is one particular place which serves its students with the re%uired skills and not only this but .chool of ,ock, encourages its students to go out and perform, showing the talent they posses. .chool of ,ock is a step to sustain the on going trends in musicology plus it1s a step to ensure that the industry is provided with e2ceptional talent

'ocation and Tar!et Market

The recommended area for the proposed business setup is $arkat Market. s there are more than (3 colleges and schools in (3 kilometer of the radius and with that people from model town, faisal town, 4arden town, 4ulberg and -anal road can easily reach $arkat market for music lessons.

)hy Music is *m+ortant ,or Students-

Music participation provides a uni%ue opportunity for literacy preparation. Whether the children are singing, playing, or listening, teachers direct them to listen and hear in new ways which e2ercises their aural discrimination. 5laying instruments and adding movement to the lessons teaches children about se%uential learning which is essential in reading comprehension. 5lato once said that music /is a more potent instrument than any other for education0. 6ou will find many teachers of young children who would agree with him. ,ecent research has found that music uses both sides of the brain, a fact that makes it valuable in all areas of development. Music affects the growth of a child1s brain academically, emotionally, physically and spiritually. Music is academic. 7or some people, this is the primary reason for providing music lessons to their children. recent study from the 8niversity of -alifornia found that music trains the brain for higher forms of thinking. .econd graders who were given music lessons scored &9: higher on proportional math and fractions tests than children who received no special instruction. ,esearch indicates that musical training permanently wires a young mind for enhanced performance.

Music is +hysical. Music can be described as a sport. Learning to sing and keep rhythm develops coordination. The air and wind power necessary to blow a flute, trumpet or sa2ophone promotes a healthy body. Music is emotional. Music is an art form. We are emotional beings and every child re%uires an artistic outlet. Music may be your child1s vehicle of e2pression. Music is ,or li,e. Most people can1t play soccer, or football at 93 or ;3 years of age but they can sing. nd they can play piano or some other instrument. Music is a gift you can give your child that will last their entire lives.

Music Schools Com+etition in 'ahore

+n Lahore there are not many music schools, there is only one music school which is in defence and it mostly caters only people living in defence. Com+etiti%e Ed!e We are situated in place where many of people of Lahore can reach easily, we have the location advantage and it would be the first professional Music school, so would be the pioneer in this $usiness.

/escri+tion o, Product2Ser%ices

)orksho+s and Pro!rams The .choll of ,ock will be introducing a series of lessons of the modern art and music. 7rom the basic rock instruments to the art of acting and singing, .choll of ,ock will have a monopoly in the market of providing such services because the market is not fully up to the mark when it comes to the art of holding a guitar to how to create music in your distinctive style. The instrument Lessons which will be guided and thought are categori<ed in three levels' (. $eginner, &. +ntermediate, =. dvanced Level. +f an individual is able to sail through all levels we can guarantee that the ability and mentally to establish at a professional manner. The following programs will be thought in the grand opening. The rt >f .inging 5lay it ,ight"$asic ,ock +nstrument Lessons* Lyrics ? 5oetry ct it out @am .essions 5erformance 5rogram

The Art ;, Sin!in!< n e2citing interactive workshop geared towards those keen on enhancing their vocal abilities through rare sights into western musical traditions in light of eastern subtleties .

.urely anyone can sing without vocal trainingA

Many people are gifted with natural singing ability, but whether you want to become a professional entertainer, a casual performer, or sing for fun, it is important to learn how protect your best asset and to increase itBs potential. We at .chool of ,ock will promise to make your desired options a good learning e2perience with giving you in depth detail of every program.

10

The following singing lessons package will show the contents of the program. Anatomy ,or sin!ers' basic introduction to vocal anatomy for beginners with links to related sites. 4ooks< udio books and books articles for singers on singing including e2ercises, history, theory and advice for beginners to advanced vocalists and performers.

Techni=ues< dvice and tips on vocal, performance, confidence and microphone techni%ues for singers plus books and related resources. Timin!> Tem+o ? Rhythm< Tips and advice for beginners plus $5M counter, reference chart.

Play *t Ri!ht'

The very main essence of our business plan lies in this very program where the basic instruments of a basic rock band will be thought from guitar " coustic ? Clectric*, bass, drums ? piano

11

@uitar'

The fundament 4uitar styles will be thought in .chool of ,ock with covering from coustic, $lues, -ountry, 7unk, @a<<, and Metal ? Hard ,ock. ll styles will be thought in beginner, intermediate and advanced level. This program will cover scale lessons along with their respective references. The categori<ed lessons will include the followingD (. -hords &. C2ercises =. @am E. ,hythm ). 5enatonic .caling F. .ound Cffects 9. .tyles ;. Techni%ue Theory

12

G. Cssential Tricks

The following inspired guitar lessons will be thought and along with special re%uests cHIc Hendri2 Led Jeppelin .atriani .teve Kai Metallica @unoon 5ink 7loyd .antana Cric -lapton The $eatles

13

/rums'

Here at .chool of ,ock you will find links to do<ens of drum lessons that will teach you everything you need to know about playing the
14

drums. Irummers of all skill levels can benefit from this massive drum lessons resource. 6ou can browse through the drum lessons in the list below. They cover creative topics, including' hi#hat tricks, open#style drumming, modified drum beats, hand#to#feet patterns, syncopation, creative drum fill ideas, and special practice tips. $asic Irum Lesson# dvanced level Irum Theory ? Lotation Iynamic Irumming ,ock ? @a<< Irums Irum .olos

4ass< The bass lessons are organi<ed into lesson blocks. 6ou should study the lesson blocks, and the lessons within each block, in order. This follows, more or less, how we present these basic bass topics being the most easy instrument out of all the rock instruments but it is our objective to teach you to play from an average bass player to a boogie woogie. The programs following lessons. 7rom The Top Techni%ues ,eading $ass

15

 ,hythmic 5ulse .cales ? -hords Piano'

>ur piano lessons will concentrate on how to play from chord symbols and other such similar techni%ues. This is where our lessons are aimed at beginners score over their traditional counterparts. The components of this lessons will included in all piano lessonsB for beginners while the structured patterns of conventional piano instruction have been also focused on a small scale for now.

Aiolin< Kiolins are fairly easy to start learning and is mostly suitable for children F years and older. They come in a variety of si<es, from full si<e to (H(F, depending on the age of the learner. Kiolins are very popular and in demand so if you become a professional player it wouldnBt be hard to join an orchestra or any musical group.

Cello< nother instrument that is fairly easy to start. +t is essentially a large violin but itsB body is thicker. +t is played the same way as the violin,

16

by rubbing the bow across the string. $ut where you can play the violin standing up, the cello is played sitting down while holding it between your legs. +t also comes in different si<es from full si<e to (HE.

0lute< .ince it is very popular, there will be a lot of competition out there if you do decide to continue professionally. $ut donBt let this fact dishearten you. The flute is one of the easiest instruments to learn, easy to transport, not hard on the budget and fun to play.

Sa$o+hone< .a2ophones come in a variety of si<es and types' like the soprano sa2ophone, the alto sa2, tenor sa2 and the baritone sa2. The alto sa2ophone is advisable for beginners. 6ou will have a lot of opportunities to play the sa2ophone as it is needed in most school orchestras.

'yrics ? Son! )ritin!< creative writing workshop designed to allow budding poets and lyrically inclined songwriters to develop and refine their ability to weave ideas and emotions through words and phrases.

17

The purpose of providing this course is to provide tools and tips to help you write that first H+T song of your. Without good lyrics the very soul of songs dies and it1s up to us to share songwriting secrets with you that could set your musical career on a new path. The following program listD How to write .ongs -atchy Melodies What1s your inspiration Techni%ues 5roper Words ,eferences C2tra reading material

Act *t ;ut<

18

-onsider this course to be an e2tra bonus programs for those who wish to work in professional theatre and media. MThe e2traordinary thing about acting is that life itself is actually used

to create artistic results. +n every other art the means only pretend to deal with reality. Music can often capture something more deeply than any other way, but it only tells you something real. 5ainting tells something about the painter, about the thing painted, and about the combination of the two. $ut since the actor is also a human being, he does not pretend to use reality. He can literally use everything that e2ist. We promise here at .chool of ,ock to give the essential acting tips and techni%ues to make you a well recogni<ed actor .

Per,ormance Pro!ram<

19

The 5erformance 5rogram is designed for kids who know the basics of how to play their instrument and are ready to take it to the stage. This program introduces the team element into music instruction. .tudents will learn harmonies, musicianship and how to perform in an authentic rock show environment. Cach season, students spend time honing their music skills while preparing to perform some of the greatest songs in rock and roll history. ll student musicians enrolled in our 5erformance 5rogram will receive' Weekly private music lesson on guitar, bass guitar, keyboard, drums, and H or vocals Weekly three#hour band rehearsal to prepare for the rock concert

Cnhanced learning in key areas such as stage performance, harmonies, musicianship and more -hoice of new show themes every season

20

4usiness Strate!y

Policies ? Procedures

Re!istration .tudents can join for a short course of = months and fees are to be made for the whole course at one time. Lo payments will be on monthly basis.

Tuition +ayment .tudents pay lesson tuition in full for a course. We accept payment by cash only. ll students agree to and sign the 5olicy and ,egistration 7orms before .chool processes tuition payment. Cmail updates notify students for payment due respectively.

Pricin! Policy

21

& hours lessonH ) working days for = months Total N ,s. &),333

)ithdra als and Re,unds 5ayment paid once cannot be refunded. .tudents withdraw from lessons in person, not over the phone. To withdraw from lessons, a parent or adult student must take the following actions (* +nform the +nstructor. &* -omplete and sign a withdrawal form provided by the .chool office. Missed 'essons and MakeBU+ 'essons Lo refunds or credits are allowed for missed lessons. +f a instructor is feeling ill and the .chool cannot arrange for a substitute, any make# up lessons schedule according to the teacherBs availabilityD e2ceptional situations assessed by instructor.

Substitutions The .chool provides a substitute teacher when the regularly scheduled teacher is feeling ill or otherwise unable to attend a lesson.

22

Marketin! Strate!y

Marketin!< solid and comprehensive marketing plan is essential for any business, especially a new business. school would re%uire a competitive plan that would lay emphasis on what sets it apart from its competitors. The following would be inducted in our plan to ensure we lay a strong foundation in the minds of both parents and children about our school in the musical teaching Oindustry1.

Print Media<

We have chosen to rely on the classic print media instead of going for electronic media for various reasons' a* we are just initiating our project and as we are pooling in the money we don1t have sufficient fundsD b* the idea is to appeal to parents through advertisements placed in newspapers as this would encourage them t o allow their child to enroll in our institutionD and c* given the current law and order of our country several people from various ages have started to read the newspaper # not in the morning P but read it, irrespective of when. We also hope to also attract students "mostly ranging between the ages of (E#&3* through such advertisements.

23

Radio< The radio is listened to by pretty much every person travelling on the road, and most of our target market is mostly tuned into either 7M;G or 7MG(. We would not only place advertisements on these radio stations, but also arrange for specially gifted students to perform on shows on either or both stations. This would provide the student with an opportunity to get noticed by a record label or if nothing else make a name for him or herself in the music industry. .uch opportunities would only be provided to students who e2cel in the e2pert class.

Merchandise< ll students would be provided with complimentary O.chool of ,ock1 t# shirts. There would also be a souvenir shop in the school that would offer special discounts to students currently enrolled in any class. The merchandise would include t#shirts in various colors, coffee mugs, pens, caps, wrist bands and guitar picks.

/iscounts< .pecial discounts would also be provided to students that would regularly enroll themselves in classes, whether it be in the same or whether the student be moving up a level.

24

4anners and 4illboards< $anners and billboards would be installed at strategically selected points across the city. They would be erected and installed about two months prior to the school1s grand#opening. There would also be advertisements towards the school1s grand#opening on them. There would be about two billboards and banners and fle2es would be installed all across the city.

25

0inancial /ata
4ud!et

Month

Rent CRsD

Salary o, :6 +eo+le CRsD &33,333 &33,333 &33,333 &3,3333 &3,3333 &3,3333 &3,3333 &3,3333 &3,3333 &3,3333 &3,3333 &3,3333 5#>66>666

Electricity 4ill CRsD &3,333 &3,333 &3,333 &3,333 &3,333 &3,333 &3,333 &3,333 &3,333 &3,333 &3,333 &3,333 5#6>666

Ad%ertisement by 4anners CRsD (3,333 (3,333 (3,333 (3,333 (3,333 (3,333 (3,333 (3,333 (3,333 (3,333 (3,333 (3,333 :56>666

Ean 0eb March A+ril May Eune Euly Au!ust Se+tember ;ctober 8o%ember /ecember Total

E3,333 E3,333 E3,333 E3,333 E3,333 E3,333 E3,333 E3,333 E3,333 E3,333 E3,333 E3,333 #76>666

26

Total N ,s. E;3,333 Q ,s. &E, 33,333 Q ,s. &E3,333 Q ,s. (&, 3333 N Rs.95>#6>666

E=ui+ments

*tems Acoustic @uitar Electric @uitar Strin!s AirB conditioner Chairs Piano Aiolin 0lute Sa$o+hone Sta!e li!hts Shirts T;TA'

Fuantity =3 &3

Price CRsD =,333 &3,333

Total CRsD G3,333 E33,333 &3,333

E )3 = ) &3 ) (

&3,333 (,333 )3,333 =3,333 (333 (3,3333 (),333

;3,333 )3,333 ()3,333 ()3,333 &3,333 )33,333 (),333 =3,333

(33

(333

(33,333 :(6>&666
27

Total C2penditure N =&, E3,333 Q (F3, )333 N Rs. #7> #&>666.

Total Ca+ita Total capital re%uired to start our business is estimated above that is Rs. #7> #&>666. ,s.&3,33,333 of this amount will be funded through e%uity where as the remaining amount will be funded by a loan, taken from a bank at an estimated interest rate of (E : for a period of (3 years. Monthly payments on the loan will be paid by the revenue generated from the classes.

28

Rehearsal Room

29

@eneral Sittin! area

30

Sta!e CPer,ormin! AreaD

31

32

*n short, apart from making profit, >ur aim is to provide a service to the community, one that is productive, entertaining, rela2ing all at the same time, Music is something that transcends language, social class, race and religion hence it is our belief that with our .chool >f ,ock we will be able to make a positive effort not only on the lives of people but their hearts and minds as well. .chool of ,ock might not seem like a pioneering effort, in turn it is our attempt to rejuvenate art and promote music in all its forms and shapes. +n a world and particularly 5akistan people are becoming highly subjective. 7rustration is prevalent in many forms, be it financial distress or otherwise, Music is the one thing that has the ability to reach out to even the most depressed of people, it can put a smile on our faces or make us cry like a baby. +n our opinion it is the one single thing in the world that can be very personal and at the same time it can belong to everyone else.

33